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IREC Telephone Seminar Utilities and the ITC – Challenges and Opportunities for the Solar Industry 
January 2009
Christopher Cook, Managing Director 
UTILITY SCALE SOLAR, MADE IN AMERICA
 
IREC Seminar January 2009www.sunworksLLC.com 
Page 2 
Brief Note on SunWorks –Who We Are
Start-up company focused on building PVmanufacturing facilities for utility scale solar generation and programs.
Management team comprised of experienced solar project developers -- 3 formerly with SunEdison –and solar and renewable project finance experts.
We provide consultation to Utilities and others oncreating large scale solar programs and projects.
We build PV factorieslocally to reduce cost of panels and createhigh techmanufacturing jobs.
 
IREC Seminar January 2009www.sunworksLLC.com 
Page 3
ITC and Utilities – The Way We Were
Prior to 8 year extension of ITC, the tax creditstatute included a utility prohibition (those who haverates set by regulators) on using the ITC for solar.
Prohibition meant that a utility could either own aPV or other solar generator and forgo the 30% taxcredit
or 
, needed a 3
rd
party owner of the systemwho could claim the credit and offer lower prices tothe utility for the solar power produced
PPA model used for large scale utility solar projects Nellis AFB 14MW and Alamosa 8 MWfor Xcel (PSCo).
Solar developers created offerings for utilities thatincluded 3
rd
party ownership and financing of solar projects:MMA and SunEdison.
Prior to the ITC change, the solar industry developed 3
rd 
party ownershipmodel to bring thetax credit to utility deals.
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